The management board of GTC Real Estate Development Hungary Zrt. (“GTC Hungary”) as issuer informs that a sale purchase agreement (the "Agreement") for acquisition of 100% of the registered share capital of NAPRED 41 DOO BEOGRAD (“Company”), was concluded on March 11, 2021 between GROTON GLOBAL CORP, a BVI business company incorporated in the British Virgin Islands (the “Seller”) and GTC Hungary, a private company limited by shares, registered under Hungarian law as buyer.
As per the long-term lease agreement concluded with the Republic of Serbia Property Directorate, the Company disposes with a land plot (“Land Plot”), under topographical lot number 6753, held by the Cadastral Municipality Novi Beograd, Serbia, with area of approx. 19,000.00 sqm. GTC Hungary intends to hold the Land Plot as part of its land bank for future development.
The closing of the transaction is expected in the third quarter of 2021 following completion of standard conditions precedent.
Legal basis: Regulation (EU) No596/2014 of the European Parliament and of the Council of 16April 2014 on market abuse (market abuse regulation)
